- Solana ETF odds rise to 81%, boosting investor hopes
- SOL tests $121.41 resistance with eyes on $150
- DeFi volume tops $100M as on-chain demand grows
Solana (SOL) is showing renewed strength following recent macroeconomic news and internal ecosystem growth. The altcoin surged 15% from a low of $100 to $115 in the past 24 hours. This rebound was fueled by optimism after former U.S. President Donald Trump announced a rollback of global tariffs and Paul Atkins was confirmed as the new SEC commissioner, raising expectations of a potential Solana ETF.
ETF Optimism and Technical Levels Drive Price Action
Solana’s price recovery coincides with rising market optimism driven by political and regulatory developments. The appointment of Paul Atkins, seen as supportive of crypto innovation, has increased speculation about the approval of altcoin ETFs.
According to Polymarket data, the odds of a Solana ETF by 2025 have risen to 81%. Market participants believe such an offering could attract new capital and enhance liquidity in SOL trading.Technically, Solana is attempting to break above key resistance levels.
The current price of $114 is just below the trendline resistance near $121.41, which traders are watching closely. A confirmed breakout above this level could open the door toward $129 and eventually $150. However, analysts caution that failure to surpass resistance could send the price back to support levels around $103.
On-Chain Momentum and DeFi Activity Provide Support
Beyond regulatory shifts, Solana’s network activity is also showing strength. DeFi platforms on Solana, such as defidotapp, have seen daily trading volumes exceed $100 million. Total transactions across the network are approaching $2.9 billion, indicating renewed interest among users and developers.
Additionally, velocity metrics show increased token movement, suggesting that demand is rising across the ecosystem. More tokens being transacted often reflects growing user engagement.
However, while price and velocity are rising, the Relative Strength Index remains below 50, showing that macro momentum still needs improvement.Analysts suggest that if macro conditions continue to favor risk assets and ETF approval becomes reality, Solana could be on a path toward $1,000 over the long term.
